It’s a confusing topic, and most people don’t get it. There are often different names :: “color profile”, “color space”, “working space”, “color mode”, “ICC profile” (The worst bit is that technically some of those words mean different things, but people often misuse them to mean color profile.)

On a Mac you have a Colorsync Utility that is built in, and a fun way to play and learn about color profiles – have a go.

Also, on a Mac you can open your image in preview and hit “CMND + i” to view what profile is assigned (or tagged) in the image.

In Photoshop you can assign, convert and do just about whatever else you like to an image’s color profiles. (Here’s a link about using PS CS5 for that stuff http://www.computer-darkroom.com/ps12_colour/ps12_1.htm)